Technical Analysis

Daily Technical analysis for December 24, 2019

Daily Technical analysis for December 24

EURUSD

The EURUSD is still moving in a downward direction on the one-hour timeframe, moving inside the classic downside channel. We expect further drop for the pair in the coming hours.

Resistance levels: 1.1175 - 1.1210 - 1.1260

Support levels: 1.1110 - 1.0990 - 1.0940

Direction: Bearish

 

GBPUSD

The GBPUSD broke the support level of 1.3020, which turned into a resistance level, so we are waiting for it to be tested again for selling until 1.2900 levels.

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2960 - 1.2900 - 1.2850

Direction: Bearish

 

USDJPY

The USDJPY is showing volatility over the one-hour timeframe and is likely to continue falling until the 108.90 price level, where it faces the first support levels.

Resistance: 109.70 - 110.00 - 110.50

Support: 108.90 - 108.30 - 107.90

Trend: Volatile

 

Gold

Gold is moving in an upside direction on the hourly interval, as shown in the following image. The price has breached the resistance level of 1485, which turned into a support level, and is likely to target 1495.

Resistance: 1495 - 1515 - 1540

Support: 1445 - 1430 - 1420

Trend: Bullish

 

Oil

As expected, oil fell due to reaching the upper bound of the bullish classic channel. The price is now targeting the 58.80 price level and then we are waiting for a suitable price behavior to buy as the trend is still bullish.

Resistance 62.50 - 65.00 - 68.00

Support: 58.81 - 53.75 - 51.45

Trend: Bullish



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